Faith Sommerfield Leases Office Space At 10 Grand Central, Manhattan For 10 Years
10 Grand Central St
$108
$108/SF
Building Size
7,719 SF
Asset Type
Office
Closing
Feb 1, 2024
AI
The office space at 10 Grand Central St in Manhattan has been leased by The Completed Life Initiative for 7,719 square feet. The tenant, represented by Lantern Real Estate's Jessica Adler and Matthew Seigel, secured a 10-year lease from landlord Craig M. Deitelzweig of Marx Realty at an asking rent ranging from $68 to $108 per square foot.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: Not specified
- Address: 10 Grand Central St
- Market: Manhattan
- Landlord: Craig M. Deitelzweig - Marx Realty
- Tenant: Faith Sommerfield - The Completed Life Initiative
- Landlord's Rep: Carlee Palmer, Kyle Young, Mitchell Konsker, Simon Landmann & Thomas Swartz - JLL
- Tenant's Rep: Jessica Adler & Matthew Seigel - Lantern Real Estate
- Asking Rent: $108/ft
- Square Footage: 7,719
A JLL team consisting of Mitchell Konsker, Kyle Young, Carlee Palmer, Simon Landmann, and Thomas Schwartz represented the landlord in the lease deal, while Lantern Real Estate's Jessica Adler and Matthew Seigel represented the tenant, The Completed Life Initiative.
Players
New York Office Market Snapshot
Boundary boundary · Office · Lease transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
146879.63%
Cash-on-Cash
-41978.65%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93